Model N (NYSE:MODN) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Model N (NYSE:MODN) released its quarterly earnings results on Tuesday. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09, Morningstar.com reports. Model N had a negative net margin of 20.30% and a negative return on equity of 56.80%. The firm had revenue of $34.71 million for the quarter, compared to the consensus estimate of $34.16 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis.

Model N stock traded up $3.20 during midday trading on Wednesday, hitting $25.00. 1,280,340 shares of the stock were exchanged, compared to its average volume of 199,302. Model N has a 1 year low of $12.60 and a 1 year high of $25.45. The stock has a market cap of $715.59 million, a price-to-earnings ratio of -34.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50 day simple moving average of $20.56.

MODN has been the topic of several analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Model N in a research note on Monday, May 20th. National Securities reaffirmed a “buy” rating on shares of Model N in a research note on Wednesday, May 8th. Needham & Company LLC raised shares of Model N from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday. JMP Securities lifted their price target on shares of Model N to $29.00 and gave the stock a “positive” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price target on shares of Model N from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.13.

In other news, CFO David Barter sold 8,031 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $18.89, for a total value of $151,705.59. Following the completion of the sale, the chief financial officer now owns 179,033 shares of the company’s stock, valued at approximately $3,381,933.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Albert Anderson sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $18.59, for a total transaction of $74,360.00. Following the completion of the sale, the senior vice president now directly owns 130,934 shares of the company’s stock, valued at approximately $2,434,063.06. The disclosure for this sale can be found here. Insiders have sold a total of 24,833 shares of company stock worth $467,895 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Model N by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 96,115 shares of the software maker’s stock worth $1,271,000 after purchasing an additional 682 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Model N by 68.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the software maker’s stock worth $43,000 after purchasing an additional 896 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of Model N by 216.5% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,459 shares of the software maker’s stock worth $28,000 after purchasing an additional 998 shares during the last quarter. Swiss National Bank increased its position in shares of Model N by 2.3% in the 2nd quarter. Swiss National Bank now owns 44,000 shares of the software maker’s stock worth $858,000 after purchasing an additional 1,000 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Model N by 4.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 24,712 shares of the software maker’s stock worth $482,000 after purchasing an additional 1,040 shares during the last quarter. 75.81% of the stock is owned by institutional investors.

Model N Company Profile

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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Earnings History for Model N (NYSE:MODN)

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